Verizon Wireless 2012 Annual Report Download - page 66

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64
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued
NOTE 8
DEBT
Changes to debt during 2012 are as follows:
(dollars in millions)
Debt Maturing
within One Year
Long-term
Debt Total
Balance at January 1, 2012 $ 4,849 $ 50,303 $ 55,152
Proceeds from long-term borrowings – 4,489 4,489
Repayments of long-term borrowings and capital leases obligations (6,403) – (6,403)
Decrease in short-term obligations, excluding current maturities (1,437) – (1,437)
Reclassifications of long-term debt 7,062 (7,062) –
Debt acquired (Note 2) 122 – 122
Other 176 (112) 64
Balance at December 31, 2012 $ 4,369 $ 47,618 $ 51,987
Debt maturing within one year is as follows:
(dollars in millions)
At December 31, 2012 2011
Long-term debt maturing within one year $ 3,869 $ 2,915
Commercial paper 500 1,934
Total debt maturing within one year $ 4,369 $ 4,849
The weighted-average interest rate for our commercial paper outstanding was 0.4% at December 31, 2012 and 2011, respectively.
Credit Facility
On August 13, 2012, we amended our credit facility to reduce fees and borrowing costs and extend the maturity date to August 12, 2016. As of
December 31, 2012, the unused borrowing capacity under this $6.2 billion four-year credit facility with a group of major financial institutions was
approximately $6.1 billion.
Long-Term Debt
Outstanding long-term debt obligations are as follows:
(dollars in millions)
At December 31, Interest Rates % Maturities 2012 2011
Verizon Communications – notes payable and other 0.70 – 3.85 2013 – 2042 $ 11,198 $ 6,900
4.35 – 5.50 2013 – 2041 7,062 7,832
5.55 – 6.90 2016 – 2041 11,031 11,043
7.35 – 8.95 2018 – 2039 5,017 6,642
Floating 2014 1,000 1,000
Verizon Wireless – notes payable and other 5.55 – 8.88 2013 – 2018 8,635 9,331
Verizon Wireless – Alltel assumed notes 6.50 – 7.88 2013 – 2032 1,500 2,315
Telephone subsidiaries – debentures 4.75 – 7.00 2013 – 2033 2,045 4,045
7.15 – 7.88 2022 – 2032 1,349 1,449
8.00 – 8.75 2019 – 2031 880 880
Other subsidiaries – debentures and other 6.84 – 8.75 2018 – 2028 1,700 1,700
Capital lease obligations (average rate of 6.3% in 2012 and 2011, respectively) 298 352
Unamortized discount, net of premium (228) (271)
Total long-term debt, including current maturities 51,487 53,218
Less long-term debt maturing within one year 3,869 2,915
Total long-term debt $ 47,618 $ 50,303